UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21496
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
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(Exact name of registrant as specified in charter)
1001 Warrenville Road, Suite 300
LISLE, IL 60532
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(Address of principal executive offices) (Zip code)
W. Scott Jardine
First Trust Portfolios, LP
1001 Warrenville Road, Suite 300
LISLE, IL 60532
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(Name and address of agent for service)
Registrant's telephone number, including area code: 630-241-4141
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Date of fiscal year end: NOVEMBER 30
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Date of reporting period: FEBRUARY 28, 2007
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule(s) of Investments is attached herewith.
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS
FEBRUARY 28, 2007 (UNAUDITED)
MARKET
SHARES DESCRIPTION* VALUE
------------ ------------------------------------------------------------ --------------
COMMON STOCKS - 67.2%
AUSTRALIA - 25.5%
330,015 Australian Pipeline Trust ...................................................... $ 1,076,475
6,450,961 Babcock & Brown Infrastructure Group ........................................... 9,784,196
14,906,607 Envestra Ltd. .................................................................. 14,093,863
588,148 Hastings Diversified Utilities Fund ............................................ 1,450,444
12,765,101 SP AusNet ...................................................................... 13,728,621
10,490,000 Spark Infrastructure Group ..................................................... 11,281,793
1,713,447 Transurban Group ............................................................... 10,192,663
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61,608,055
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FRANCE - 0.4%
9,810 Aeroports de Paris++ ........................................................... 795,279
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ITALY - 9.3%
750,000 Enel SPA ....................................................................... 7,835,865
1,613,728 Snam Rete Gas SPA............................................................... 9,657,895
1,400,000 Terna SPA....................................................................... 4,872,562
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22,366,322
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NEW ZEALAND - 4.5%
7,000,000 Auckland International Airport Ltd. ............................................ 10,920,266
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SPAIN - 6.7%
147,000 Enagas SA ...................................................................... 3,351,785
60,000 Iberdrola SA.................................................................... 2,633,724
225,000 Red Electrica de Espana......................................................... 10,242,702
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16,228,211
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UNITED KINGDOM - 20.8%
575,000 Kelda Group plc................................................................. 10,074,048
1,106,329 Pennon Group plc................................................................ 11,679,763
470,099 Severn Trent plc................................................................ 12,751,306
1,098,994 United Utilities plc............................................................ 15,703,616
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50,208,733
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TOTAL COMMON STOCKS............................................................. 162,126,866
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(Cost $128,430,722)
MASTER LIMITED PARTNERSHIPS - 11.7%
UNITED STATES - 11.7%
174,700 Amerigas Partners, L.P. ........................................................ 5,593,894
44,760 Duncan Energy Partners L.P.++................................................... 1,074,240
135,200 Enbridge Energy Partners, L.P. ................................................. 7,139,912
125,000 Kinder Morgan Energy Partners, L.P. ............................................ 6,333,750
190,000 Magellan Midstream Partners, L.P. .............................................. 7,999,000
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TOTAL MASTER LIMITED PARTNERSHIPS............................................... 28,140,796
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(Cost $22,489,121)
See Notes to Quarterly Portfolio of Investments. Page 1
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2007 (UNAUDITED)
MARKET
SHARES DESCRIPTION* VALUE
------------ ------------------------------------------------------------ --------------
CANADIAN INCOME TRUSTS - 16.6%
1,000,300 Northland Power Income Fund .................................................... $ 11,357,716
850,300 Pembina Pipeline Income Fund.................................................... 11,886,461
691,800 The Consumer's Waterheater Income Fund ......................................... 8,813,116
629,200 UE Waterheater Income Fund ..................................................... 8,069,425
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TOTAL CANADIAN INCOME TRUSTS ................................................... 40,126,718
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(Cost $27,018,551)
BANK LOAN
PRINCIPAL RATINGS+ STATED MARKET
VALUE DESCRIPTIONO MOODY'S S&P COUPON MATURITY* VALUE
------------ --------------------------------- -------------- ------ ----------- ------------
SENIOR FLOATING RATE TERM LOAN INTERESTS** - 36.9%
COMMERCIAL SERVICES & SUPPLIES - 2.6%
ENVIRONMENTAL & FACILITIES SERVICES - 2.6%
$ 1,641,509 EnergySolutions, LLC............. NR(a) NR(a) 7.57% 8/09/13 1,655,873
2,966,670 EnergySolutions, LLC............. NR(a) NR(a) 7.57%-7.63% 6/07/13 2,992,627
1,500,000 EnviroSolutions Real Property
Holdings, Inc. ............... B2 B- 8.89% 7/07/12 1,515,000
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TOTAL COMMERCIAL SERVICES & SUPPLIES 6,163,500
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ELECTRIC UTILITIES - 8.3%
ELECTRIC UTILITIES - 8.3%
1,000,000 Astoria Generating Company
Acquisitions, LLC (c) ........ B3 B 9.12% 8/23/13 1,012,917
66,742 Calpine Corp. (d)................ NR(a) NR(a) 2.25% 12/20/07 66,575
326,902 Calpine Corp. (d),
(Debtor in Possession) ....... NR(a) NR(a) 7.62% 12/20/07 327,923
1,829,787 Calpine Corp. (c)(d),
(Debtor in Possession) ....... NR(a) NR(a) 9.36% 12/20/07 1,845,035
560,232 Cogentrix Delaware
Holdings, Inc. ............... Ba2 BB+ 6.87% 4/14/12 561,282
4,000,000 Covanta Energy Corporation....... Ba2 BB- 5.28%-6.88% 2/09/14 4,016,668
2,883,721 LSP Gen Finance Co., LLC......... Ba3 BB- 7.11% 5/04/13 2,890,930
912,930 Midwest Generation, LLC ......... Baa3 BB 6.83%-6.86% 4/27/11 914,756
990,000 Mirant North America, LLC ...... Ba3 BB- 7.07% 1/03/13 992,846
774,257 Northern Star Holdings II LLC
& NSG Holdings II LLC ........ B1 B 8.35% 12/13/11 780,548
3,000,000 NRG Energy, Inc. ............... Ba1 BB- 7.36% 2/01/13 3,027,114
1,728,325 Plum Point Energy
Associates, LLC .............. B1 B 8.61% 3/14/14 1,743,448
1,055,913 Riverside Energy Center, LLC .... B1 B 9.61% 6/24/11 1,077,032
757,259 Rocky Mountain Energy
Center, LLC .................. B1 B 9.61% 6/24/11 772,404
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TOTAL ELECTRIC UTILITIES 20,029,478
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Page 2 See Notes to Quarterly Portfolio of Investments.
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2007 (UNAUDITED)
PRINCIPAL RATINGS+ STATED MARKET
VALUE DESCRIPTION* MOODY'S S&P COUPON MATURITY* VALUE
------------ --------------------------------- -------------- ------ ----------- ------------
SENIOR FLOATING RATE TERM LOAN INTERESTS** - CONTINUED
ENERGY EQUIPMENT & SERVICES - 0.8%
OIL & GAS EQUIPMENT & SERVICES - 0.8%
$ 1,979,839 Targa Resources, Inc. ........... B1 B+ 7.36%-7.61% 10/31/12 $ 1,994,688
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TOTAL ENERGY EQUIPMENT & SERVICES 1,994,688
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HEALTH CARE PROVIDERS & SERVICES - 8.6%
HEALTH CARE FACILITIES - 4.9%
3,000,000 HCA Inc. ....................... Ba3 BB 7.61% 11/17/13 3,034,251
3,000,000 Health Management Associates, Inc. Ba2 B+ 7.11% 2/28/14 3,021,564
2,721,680 Lifepoint Hospitals, Inc. ....... Ba3 BB 6.99% 4/15/12 2,718,618
2,947,500 Select Medical Corp. ............ Ba1 B+ 7.07%-9.00% 2/24/12 2,939,462
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11,713,895
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HEALTH CARE SERVICES - 1.6%
997,500 CHS/Community Health Systems, Inc. Ba3 BB- 7.11% 2/29/12 1,002,332
2,949,911 CHS/Community Health Systems, Inc. Ba3 BB- 7.07%-7.10% 8/19/11 2,964,200
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3,966,532
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MANAGED HEALTH CARE - 2.1%
1,950,000 IASIS Healthcare Corp. .......... Ba2 B+ 7.57%-7.61% 6/22/11 1,968,038
2,980,050 Vanguard Health Systems, Inc. ... Ba3 B 7.61% 9/23/11 3,003,643
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4,971,681
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TOTAL HEALTH CARE PROVIDERS & SERVICES 20,652,108
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INDEPENDENT POWER PRODUCERS & ENERGY TRADERS - 3.5%
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS - 3.5%
1,990,637 Coleto Creek Power, L.P. ........ B1 B+ 8.11% 6/28/13 1,997,272
3,000,000 HCP Acquisition, Inc. .......... B1 B- 7.57% 2/13/14 3,030,000
2,000,000 Longview Power, LLC ............. Ba3 BB- 7.57% 2/28/14 2,020,000
1,500,000 NE Energy, Inc. ................ B1 B+ 7.87% 11/01/13 1,518,000
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TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 8,565,272
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MEDIA - 5.4%
BROADCASTING & CABLE TV - 5.0%
975,000 Bragg Communications, Inc. ...... NR(a) NR 7.11% 8/31/11 977,438
2,000,000 Cequel Communications, LLC ...... B1 B+ 7.61% 11/05/13 2,019,062
2,996,275 Charter Communications
Operating, LLC ............... B1 B 7.99% 4/28/13 3,015,565
2,979,987 CSC Holdings, Inc. .............. Ba2 BB 7.11% 3/29/13 2,993,895
1,500,000 UPC Distribution Holding B.V. ... B1 B 7.37% 3/31/13 1,504,859
1,500,000 UPC Distribution Holding B.V. ... B1 B 7.37% 12/31/13 1,504,773
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12,015,592
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PUBLISHING - 0.4%
990,000 Quebecor Media Inc. ........... B1 B 7.36% 1/17/13 995,260
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TOTAL MEDIA 13,010,852
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See Notes to Quarterly Portfolio of Investments. Page 3
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2007 (UNAUDITED)
PRINCIPAL RATINGS+ STATED MARKET
VALUE DESCRIPTION* MOODY'S S&P COUPON MATURITY* VALUE
------------ --------------------------------- -------------- ------ ----------- ------------
SENIOR FLOATING RATE TERM LOAN INTERESTS** - CONTINUED
MULTI-UTILITIES - 1.2%
MULTI-UTILITIES - 1.2%
$ 3,000,000 KGEN, LLC ....................... Ba3 BB- 7.10% 2/08/14 $ 3,013,125
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TOTAL MULTI-UTILITIES 3,013,125
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OIL, GAS & CONSUMABLE FUELS - 5.6%
OIL & GAS EXPLORATION & PRODUCTION - 1.4%
1,804,085 Plains Resources, Inc. .......... Ba2 BB 6.86% 8/12/11 1,805,212
1,498,684 SemCrude, L.P. .................. Ba2 B+ 7.57%-7.60% 3/16/11 1,510,971
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3,316,183
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OIL & GAS REFINING, MARKETING & TRANSPORTATION - 3.8%
1,968,741 Eagle Rock Gas Gathering
& Processing, Ltd. ........... NR NR 8.11% 12/03/12 1,968,740
3,000,000 El Paso Corp. ................... Ba3 B+ 7.22% 7/31/11 3,016,875
3,000,000 Energy Transfer Equity, L.P. .... Ba2 NR 7.10% 2/08/12 3,026,250
980,155 EPCO Holdings, Inc. ............. Ba2 BB- 7.36% 8/18/10 991,006
166,667 Regency Gas Service, LLC......... Ba1 B+ 7.86% 8/15/13 167,032
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9,169,903
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OIL & GAS STORAGE & TRANSPORTATION - 0.4%
1,000,000 IFM (US) Colonial Pipeline 2, LLC Ba3 BB+ 7.57% 2/27/12 1,011,250
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TOTAL OIL, GAS & CONSUMABLE FUELS 13,497,336
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WIRELESS TELECOMMUNICATION SERVICES - 0.9%
WIRELESS TELECOMMUNICATION SERVICES - 0.9%
2,100,000 Windstream Corp. ................ Ba1 BBB- 7.57% 7/17/13 2,114,874
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TOTAL WIRELESS TELECOMMUNICATION SERVICES 2,114,874
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TOTAL SENIOR FLOATING RATE TERM LOAN INTERESTS.................................. 89,041,233
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(Cost $88,486,090)
REPURCHASE AGREEMENT - 2.4%
5,800,000 Agreement with Deutsche Bank Securities Inc., 5.28% dated 02/28/2007 to be repurchased
at $5,800,851 on 03/01/07, collateralized by $5,960,000 Freddie Mac
Discount Note, 5.30% due 04/13/07 (Value $5,916,000) ........................ 5,800,000
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TOTAL REPURCHASE AGREEMENT...................................................... 5,800,000
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(Cost $5,800,000)
TOTAL INVESTMENTS - 134.8%...................................................... 325,235,613
(Cost $272,224,484) (b)
NET OTHER ASSETS AND LIABILITIES - (4.1)%....................................... (9,898,876)
LOAN OUTSTANDING - (30.7)%...................................................... (74,000,000)
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NET ASSETS - 100.0%............................................................. $ 241,336,737
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Page 4 See Notes to Quarterly Portfolio of Investments.
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2007 (UNAUDITED)
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(a) This Senior Loan Interest was privately rated upon issuance. The
rating agency does not provide ongoing surveillance on the rating.
(b) Aggregate cost for federal income tax and financial reporting
purposes.
(c) This issue is secured by a second lien on the issuer's assets.
(d) This borrower has filed for protection in federal bankruptcy court.
* All percentages shown in the Portfolio of Investments are based on
net assets.
+ Ratings below Baa3 by Moody's Investors Service, Inc. or BBB-
by Standard & Poor's Ratings Group are considered to be below
investment grade.
++ As of February 28, 2007, this security has not paid a distribution
to the Fund.
NR Not Rated
* Senior Loans generally are subject to mandatory and/or optional
prepayment. Prepayment of Senior Loans may occur because of the
mandatory prepayment conditions and because there may be significant
economic incentives for a borrower to optionally prepay. As a
result, the actual remaining maturity of Senior Loans may be
substantially less than the stated maturities shown. Senior Loans
generally have maturities that range from five to eight years;
however, the Fund estimates that refinancing and prepayments result
in an average maturity of the Senior Loans held in its portfolio to
be approximately 18-36 months.
** Senior Loans in which the Fund invests generally pay interest at
rates which are periodically predetermined by reference to a base
lending rate plus a premium. These base lending rates are generally
(i) the lending rate offered by one or more major European banks,
such as the London Inter-Bank Offered Rate ("LIBOR"), (ii) the
prime rate offered by one or more major United States banks or (iii)
the certificate of deposit rate.
See Notes to Quarterly Portfolio of Investments. Page 5
MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
FEBRUARY 28, 2007 (UNAUDITED)
[GRAPHC OMITTED]
EDGAR REPRESENTATION OF DATA POINTS IN PRINTED GRAPHIC
INDUSTRY DIVERSIFICATION (a)
Diversified Consumer Services 6.9%
Electric Utilities 12.1%
Senior Secured Loans 27.4% (b)
Gas Utilities 4.3%
Independent Power Producers &
Energy Traders 3.5%
Gas Pipelines 14.9%
Multi-Utilities 6.9%
Transportation Infrastructure 6.7%
Water Utilities 15.5%
Repurchase Agreements 1.8%
[GRAPHC OMITTED]
EDGAR REPRESENTATION OF DATA POINTS IN PRINTED GRAPHIC
COUNTRY DIVERSIFICATION (a)
Australia 18.9%
France 0.2%
Italy 6.9%
New Zealand 3.4%
Spain 5.0%
United Kingdom 15.4%
United States 8.7%
Canada 12.3%
Repurchase Agreements 1.8%
Senior Secured Loans 27.4%
(a) Percentages are based upon total investments. Please note that
percentages shown on the Portfolio of Investments are based on net
assets.
(b) For this Industry Diversification chart, only the core component of
the portfolio of investments is presented in detail by industry,
with the Senior Loan Component of the portfolio included in total.
(c) The Senior Secured Loans are comprised of 25.9% United States Loans
and 1.5% Canadian Loans.
Page 6 See Notes to Quarterly Portfolio of Investments
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NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS (UNAUDITED)
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
FEBRUARY 28, 2007
1. VALUATION AND INVESTMENT PRACTICES
A. PORTFOLIO VALUATION:
The net asset value ("NAV") of the Common Shares of the Macquarie/First Trust
Global Infrastructure/Utilities Dividend & Income Fund (the "Fund") is computed
based upon the value of the Fund's portfolio and other assets less any accrued
liabilities. The NAV is determined as of the close of regular trading on the
NYSE, normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading.
Domestic debt securities and foreign securities are priced using data reflecting
the earlier closing of the principal markets for those securities. The NAV is
computed by dividing the value of all assets of the Fund (including accrued
interest and dividends), less all liabilities (including accrued expenses and
dividends declared but unpaid), by the total number of Common Shares
outstanding.
The Fund's investments are valued daily at market value or, in the absence of
market value with respect to any portfolio securities, at fair value in
accordance with valuation procedures adopted by the Fund's Board of Trustees. A
majority of the Fund's assets are valued using market information supplied by
third parties. In the event that market quotations are not readily available,
the pricing service does not provide a valuation for a particular asset, or the
valuations are deemed unreliable, or if events occurring after the close of the
principal markets for particular securities (e.g., domestic debt and foreign
securities), but before the Fund values its assets, would materially affect NAV,
First Trust Advisors L.P. ("First Trust") may use a fair value method to value
the Fund's securities and investments. The use of fair value pricing by the Fund
is governed by valuation procedures adopted by the Fund's Board of Trustees, and
in accordance with the provisions of the Investment Company Act of 1940, as
amended (the "1940 Act").
Foreign securities traded outside the United States are generally valued as of
the time their trading is complete, which is usually different from the close of
the NYSE. Occasionally, events affecting the value of such securities may occur
between such times and the close of the NYSE that will not always be reflected
in the computation of the value of such securities. If events materially
affecting the value of such securities occur during such period, these
securities will be valued at their fair value according to procedures adopted by
the Fund's Board of Trustees. All securities and other assets of the Fund
initially expressed in foreign currencies will be converted to U.S. dollars
using exchange rates in effect at the time of valuation.
The Senior Loans in which the Fund invests are not listed on any securities
exchange or board of trade. Senior Loans are typically bought and sold by
institutional investors in individually negotiated private transactions that
function in many respects like an over-the-counter secondary market, although
typically no formal market-makers exist. This market, while having grown
substantially in the past several years, generally has fewer trades and less
liquidity than the secondary market for other types of securities. Some Senior
Loans have few or no trades, or trade infrequently, and information regarding a
specific Senior Loan may not be widely available or may be incomplete.
Accordingly, determinations of the market value of Senior Loans may be based on
infrequent and dated information. Because there is less reliable, objective data
available, elements of judgment may play a greater role in valuation of Senior
Loans than for other types of securities. Typically, Senior Loans are valued
using information provided by an independent third party pricing service. If the
pricing service cannot or does not provide a valuation for a particular Senior
Loan or such valuation is deemed unreliable, First Trust may value such Senior
Loan at a fair value according to procedures adopted by the Fund's Board of
Trustees, and in accordance with the provisions of the 1940 Act.
Portfolio securities listed on any exchange other than the NASDAQ National
Market ("NASDAQ") are valued at the last sale price on the business day as of
which such value is being determined. If there has been no sale on such day, the
securities are valued at the mean of the most recent bid and asked prices on
such day. Securities traded on the NASDAQ are valued at the NASDAQ Official
Closing Price as determined by NASDAQ. Portfolio securities traded on more than
one securities exchange are valued at the last sale price on the business day as
of which such value is being determined at the close of the exchange
representing the principal market for such securities. Portfolio securities
traded in the over-the-counter market, but excluding securities traded on the
NASDAQ, are valued at the closing bid prices. Short-term investments that mature
in less than 60 days are valued at amortized cost.
B. REPURCHASE AGREEMENTS:
The Fund engages in repurchase agreement transactions. Under the terms of a
typical repurchase agreement, the Fund takes possession of an underlying debt
obligation subject to an obligation of the seller to repurchase, and the Fund to
resell, the obligation at an agreed-upon price and time, thereby determining the
yield during the Fund's holding period. This arrangement results in a fixed rate
of return that is not subject to market fluctuations during the Fund's holding
period. The value of the collateral is at all times at least equal to the total
Page 7
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NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS - (UNAUDITED) (CONTINUED)
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MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND & INCOME FUND
FEBRUARY 28, 2007
amount of the repurchase obligation, including interest. In the event of
counterparty default, the Fund has the right to use the collateral to offset
losses incurred. There is potential loss to the Fund in the event the Fund is
delayed or prevented from exercising its rights to dispose of the collateral
securities, including the risk of a possible decline in the value of the
underlying securities during the period while the Fund seeks to assert its
rights. The Fund reviews the value of the collateral and the creditworthiness of
those banks and dealers with which the Fund enters into repurchase agreements to
evaluate potential risks.
C. SECURITIES TRANSACTIONS:
Securities transactions are recorded as of the trade date. Realized gains and
losses from securities transactions are recorded on the identified cost basis.
Distributions received from the Fund's investments in master limited
partnerships ("MLPs") generally are comprised of return of capital and reduce
the cost basis of the applicable MLPs.
Securities purchased or sold on a when-issued or delayed-delivery basis may be
settled a month or more after the trade date; interest income on such securities
is not accrued until settlement date. The Fund maintains liquid assets with a
current value at least equal to the amount of its when-issued or
delayed-delivery purchase commitments.
D. UNFUNDED LOAN COMMITMENTS:
The Fund may enter into certain credit agreements, all or a portion of which may
be unfunded. The Fund had unfunded Senior Loan commitments of approximately
$773,684 as of February 28, 2007. The Fund is obligated to fund these Senior
Loan commitments at the borrower's discretion. Net unrealized depreciation of
$1,934 from these commitments is included in "Net Other Assets and Liabilities"
on the Portfolio of Investments.
2. UNREALIZED APPRECIATION/(DEPRECIATION)
As of February 28, 2007, the aggregate gross unrealized appreciation of all
securities in which there was an excess of value over tax cost was $53,025,068
and the aggregate gross unrealized depreciation of all securities in which there
was an excess of tax cost over value was $13,939.
Page 8
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these controls
and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR
270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17
CFR 270.30a-3(d)) that occurred during the registrant's last fiscal
quarter that have materially affected, or are reasonably likely to
materially affect, the registrant's internal control over financial
reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) MACQUARIE/FIRST TRUST GLOBAL INFRASTRUCTURE/UTILITIES DIVIDEND &
INCOME FUND
By (Signature and Title)* /S/ JAMES A. BOWEN
-------------------------------------------------------
James A. Bowen, Chairman of the Board, President and
Chief Executive Officer
(principal executive officer)
Date APRIL 18, 2007
----------------------------------------------------------------------------
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /S/ JAMES A. BOWEN
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James A. Bowen, Chairman of the Board, President and
Chief Executive Officer
(principal executive officer)
Date APRIL 18, 2007
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By (Signature and Title)* /S/ MARK R. BRADLEY
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Mark R. Bradley, Treasurer, Controller, Chief Financial
Officer and Chief Accounting Officer
(principal financial officer)
Date APRIL 18, 2007
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* Print the name and title of each signing officer under his or her signature.